“Customer loyalty comes from having a strong relationship with your customers,” says sales guru and blogger Geoffrey James.
“When they see you as a friend and ally, they’re reluctant to jump ship, even if it means they can get something a little cheaper.”
The ever-elusive customer loyalty can sometimes take years to create. Brands use traditional ad campaigns, public relations tactics and social media outlets to build goodwill and rapport with customers and prospective buyers.
Among the tried and true methods used to boost customer loyalty is cause marketing.
“In this new era of social responsibility, what you don’t do can cost you,” reads an article from Entrepreneur. “Cause marketing” is now the norm, and customers who visit your website and see your advertising want to know that you share their desire to make the world a better place by supporting an important cause.”
Sponsoring an event, activity or organization not only boosts visibility and brand awareness, it fosters trustworthiness and a bond between brand and consumer – sharing support for a worthy cause.
Taking on a sponsorship role in an industry event can offer a highly visible platform to showcase products and services as well. Providing an exclusive sponsorship can help keep your brand top of mind and differentiate you from competitors in the mind of the prospective customer.
In a recent study, 80% of consumers said they would switch to a brand that supports a cause, when price and quality are equal. Over 80% of consumers polled wished more of the products and services they used would support a cause. The statistics stack high in the favor of more and more cause marketing.
The fall season alone sees its fair share of cause marketing and event sponsorships – with it being both Movember and National Family Caregivers Month. Most recently, the world saw an entire city come together beneath the Batkid banner.
Earlier this month, all of San Francisco united to transform the city into Gotham as 5-year-old cancer survivor Miles Scott donned a cape and cowl and became Batkid – costing the city a reported $105,000.
From the San Francisco Chronicle and their Gotham City Chronicle special edition to the San Francisco Giants and their mascot Lou Seal getting kidnapped, 20,000 people and countless organizations gathered to cheer on the young caped crusader. Not only did these brands support a fantastic cause, but they also get to see their names associated with a touching story that seemed to captivate the entire country.